Ontario pension fund hunts for new London property deals

London’s commercial property market still ranks as one of the most attractive in the world, says the head of one of Canada’s largest pension funds which is looking for new UK real estate deals. 

Blake Hutcheson, chief executive of Ontario Municipal Employees Retirement System (Omers), said the fund, which owns UK investments worth C$10bn (£5.8bn), intends to “buy more” real estate in London.

“We believe in the UK. London is still one of the top five or six cities in the world to invest in for real estate. It will be one of the very best markets over the long-term,” he said. “We have made more money investing in London than any other city in the world. Nothing about Brexit will change our posture.”

Mr Hutcheson was appointed chief executive in June. Omers oversees C$109bn on behalf of more than half a million pension savers across Ontario. 

Many offices across

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DM orders FIR against contractor for poor construction of UPSRTC bus station & women’s hospital, suspends jr engineer | Bareilly News

Pilibhit: District magistrate (DM) Pulkit Khare has ordered the lodging of an FIR against Mukesh Arora — the contractor who built both the UP State Road Transport Corporation (UPSRTC) bus station and the 50-bed Puranpur women’s hospital — and the suspension of junior engineer Sikandar Pal of Uttar Pradesh State Construction Corporation Limited (UPSCCL), the government agency assigned by the state administration to carry out the projects, for shoddy construction quality of both buildings.
In addition, he has pulled up V K Gangwar, UPSRTC assistant regional manager, for negligence in regularly inspecting and reviewing the quality of construction. Khare had made a surprise inspection of the two buildings being constructed on Tuesday.
The total construction cost of the bus station had been assessed at Rs 5.36 crore, while the women’s hospital had a budget of Rs 5.14 crore. Construction work of the bus station was scheduled for completion on October
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Second City for sale

It will be the second time the business has been for sale in its 60-year history, according to a news release from the company.

“I have had an extraordinary 47-year run guiding this wonderful living, breathing, dynamic comedy institution. Watching the talent development process has given me more joy than one person should be allowed,” Andrew Alexander, a current owner of Second City and former CEO, said in the news release. “But it is time for a new generation with fresh ideas to take the company to the next level.”

The institution has faced its share of challenges over the last few years.

In 2015 a fire destroyed Second City’s offices in the Old Town neighborhood, forcing a rebuild.

Then this year, the pandemic struck live performances hard. The iO Theater, another Chicago comedy troupe, announced in June that it would close permanently.

Second City has shifted its corporate and

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Real Estate Rumors: Copart, Eighteen Capital, Binsong Li

Law360 (October 20, 2020, 7:11 PM EDT) — Auto auction technology company Copart has picked up 117 acres of land in Homestead, Florida, for $34.75 million, the South Florida Business Journal reported on Tuesday. The deal is for 1465 S.E. 36th St., which Copart plans to use to store damaged vehicles prior to auctioning them, and the seller is entities managed by Florida investor Itai Kathein, according to the report.

Real estate private equity firm Eighteen Capital Group has landed $108 million in financing from Greystone for a portfolio of nine apartment complexes in multiple states, Commercial Observer reported on Tuesday. The 10-year loan is for nine complexes that…

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City eyes Dickson Athletic Club for new senior center, owner says lower offer ‘not right’

The city’s proposed purchase of the Dickson Athletic Club to be converted into a new senior center passed a first vote by the Dickson City Council on Monday. Both the city senior center director and police chief said more space is needed in their departments, and believe buying the club building could help. 

a car parked in a parking lot: The Dickson Athletic Club in Dickson.

© Herald photo
The Dickson Athletic Club in Dickson.

However, the facility’s owner, Dan Smith, said he won’t accept the reduced offering price of $1.6 million determined by council members during the meeting. 


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The offer presented to the council Monday was $1.9 million for the 25,000-square-foot facility on 100 Payne Springs Road, alongside Highway 70 and across from the city’s Buckner Park. 

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Smith said he negotiated with city staff from his initial price of $2.4 million down to the $1.9

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Old Kendall County Jail For Sale

YORKVILLE, IL — Nearly a year after the old Kendall County Jail was sold to developer Peter McKnight, of KCJ Restoration LLC for restoration, the Madison Street property is now for sale. According to WSPY, McKnight planned to turn the old downtown jail into five residential units and some commercial space, with the city helping by reimbursing the developer some of the funds and waving normal construction fees.

While McKnight still has a goal to finish the restoration, he doesn’t currently have the money for the rest. According to WSPY, some of the restoration work has been completed on the inside and outside the property. Restoration is estimated to cost around $800,000, WSPY added.

According to the news report, the online listing for the jail shows a selling price of $373,000.

According to a piece written on the city’s website, “History of the Old Kendall County Sheriff’s Residence and Jail

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6 Great Home Building Stocks to Maximize Your Gains

The pandemic has been an unexpected boon to the homebuilding industry, with people scrambling to find places that they consider better suited for social distancing and operating from home.

But that’s just one of the drivers. Equally strong, also related to the pandemic, is the fact that more and more companies are looking at working from home as a permanent mode of operation. This could be the first step toward decongestion of thickly populated areas, where home prices are so high that many people have to make do with rented accommodation.

Also, with home operation a new normal now, millennials looking to settle down but priced out of the locations where they work in, can finally take the plunge. They can finally buy a home where they can afford it since they don’t have to suffer the commute.

The low interest rates also make homes more affordable, thus pushing demand.

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Home Builders Keep Building New Houses, Latest Data Show. Why They Won’t Stop.

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A sign is posted in front of new homes for sale at Hamilton Cottages in Novato, California.

Justin Sullivan/Getty Images

Single-family home construction remained strong in September, according to preliminary data released by the Census Bureau Tuesday—and there are indications building will continue into the fall.

Single-family housing starts rose to a seasonally adjusted annual rate of 1,108,000, an increase of 8.5% month over month and 22.3% year over year, while multifamily starts fell. Total starts rose to a rate of 1,415,000, up 11.1% year over year and about 2% above August’s revised figure of 1,388,000. The pace of single-family starts in September was the highest since the summer of 2007, National Association of Homebuilders chief economist
Robert Dietz
wrote in a blog post.

While single-family starts continued to rise, total starts for September came in below FactSet’s consensus estimate of 1,460,000. EISI homebuilding analyst Stephen Kim reminded

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New York Commercial Eviction, Foreclosure Ban Extended

Gov. Andrew Cuomo (Getty, iStock)

Gov. Andrew Cuomo (Getty, iStock)

Landlords looking to boot non-paying commercial tenants will have to wait until the new year.

New York’s moratorium on commercial evictions and foreclosures due to non-payment of rent will be in place through Jan. 1, 2021, Gov. Andrew Cuomo announced in a press conference Tuesday.

The governor can only extend the ban for 30-day periods — meaning the latest order will need to be renewed again on Nov. 19. A spokesperson for the governor’s office said the ban would remain in place.

Cuomo said the commercial eviction and foreclosure moratorium would align with the rules governing residential evictions, although the legislation limiting some residential evictions is not a blanket moratorium — it allows tenants to raise a defense in non-payment cases, and allows landlords to seek a money judgments instead of eviction if the tenant is eligible. As of last week in Rochester, 27 eviction

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BGL Announces the Acquisition of a Multifamily Real Estate Portfolio in Washington, D.C.

CLEVELAND, Oct. 20, 2020 /PRNewswire/ — Brown Gibbons Lang & Company (BGL) is pleased to announce the acquisition of a four-building multifamily portfolio in Washington, D.C. on behalf of RLP Investments LLP (RLP). In total, the portfolio consists of 51 units and 36,324 square feet of multifamily real estate, approximately 10 miles east of downtown Washington, D.C. BGL’s Real Estate Advisors Group served as the exclusive financial advisor to RLP in the transaction. Financing for the acquisition and renovation of the properties was provided by MainStreet Bank. The developer was represented by Steven M. Buckman of BuckmanLegal, PLLC of Washington, D.C.

“BGL was able to help secure the acquisition financing in a very quick and efficient manner.”

Mikhail Phillips, Managing Member of RLP, commented, “BGL was able to help secure the acquisition financing in a very quick and efficient manner, as they stepped in when a prior advisor

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